Spotify has 220 million paying users and posted a net loss of 302 million euros in the quarter.

CTOnews.com, July 25, according to Spotify's latest financial report, as of June 30 this year, the audio streaming service had 220 million paying users and 551 million monthly active users, an increase of 27% and 17% respectively over the same period last year, exceeding expectations for the previous quarter.

However, the average revenue per user of Spotify has fallen by 6% to 4.27 euros (CTOnews.com Note: currently about 34 yuan). To boost revenue, Spotify has raised subscription prices in the United States and other countries.

Spotify has also made some layoffs and adjustments this year, and CEO Daniel Ek says the company's focus this year is on "speed and efficiency." In January, the company laid off 6% of its global workforce, or about 600; in April, it closed Spotify Live, which competes with Clubhouse, and Heardle;6, which competes with Worldle, and cut another 200 jobs in its podcast division.

Spotify's net loss for the quarter was 302 million euros (currently about 2.404 billion yuan), more than double the 125 million euros (1.02 billion yuan) in the same period last year.

Spotify announced a high-fidelity streaming package two years ago, saying it would bring CD-quality lossless streaming to the service, but it hasn't been launched yet.